GL0901-Based on Problem 9-1A LO C2, P The January 1, 2016 trial balance for the Parker Company is found on the trial balance tab. The beginning balances are assumed. Parker Co. entered into the following transactions invo Apr. 20 Purchased $44,750 of merchandise on eredit from carter, terma are /30. Parker uses t lving short-term liabilities in 2016 and 2017 (Use 360 days a year) 2016 systen with paying $8,750 in cash. 108,000. account payable to carter vith a 90-day, 936,000 note bearing annual interest alog July s Borrowed $108,000 cash from MTR Bank by aigning a 120-day, 9* interest-bearing note with a face value of Aug, 17 Paid the anount due on the note to Carter at the maturity date. Nov. 5 Paid the anount due on the note to NTR Bank at the maturity date. Nov. 28 Borroved $69,000 cash from Albany Bank by aigning a 60-day, interest-bearing note vith a face value of Dec. 31 Reoorded an adjusting entry tor acerued interest on the note to Albany Bank. 2017 Jan. 27 Paid the amount due on the note to Albany Bank at the maturity date. GeneralTrial Balance Payables Ledger tion of Interest 2017 General Schedule of Requirement ournal Enter the principal amount, interest rate, and number of days of interest to be recorded for each note. Verify that interest expense agrees with your journal entries and the trial balance. r Co. of i $36,000